Petrol, diesel prices scale new highs on rupee woes

The prices of petrol and diesel in Rajasthan are down by Rs 2.5 per litre.

Andhra Pradesh Chief Minister Chandrababu Naidu today became the second Chief Minister to announce a cut in state tax for fuel, which will bring down prices by Rs 2 per litre and cost the exchequer around Rs. 1,120 crore. Price of price per litre in Ahmedabad rose by 55 paise, while that of diesel rose by 48 paise, a sea change compared to daily changes of about three or four paise that was happening on most days till now. The new petrol and diesel prices will be applicable from Tuesday morning (September 11).

Senior party leader Dilip Pandey said unrest against Narendra Modi-led government is growing and the opposition can not remain silent to the plight of common man affected by issues like fuel price hike, corruption and unemployment.

A deduction in petrol and diesel prices in Andhra Pradesh has come a day after Vasundhara Raje-led Rajasthan government announced a 4 per cent reduction in Value-added tax (VAT) on the fuel.

On the other hand, the diesel costs Rs 75.36, Rs 76.98 and Rs 76.64 in the cities of Kolkata, Mumbai and Chennai respectively.

The soaring prices are continuing to burn a hole in the pockets of commuters, one of whom feels he may have to avail bank loans to pay for fuel.

The surge in fuel prices is largely attributed to the rise in crude oil prices and high excise duty in the country. Nimish Patel, chairman of GST Committee of All India Motor Transport Congress said that the combination of rising prices of crude oil and simultaneous weakening of Rupee against the Dollar has played a major role in a net hike in prices. However, prices vary in different parts of the state due to local tax additions.

"Since the central government is not responding on (reducing the) petrol prices, Naidu is doing the exercise to give relief to the public", sources in the TDP said.

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